SEATTLE, WA and LAUREL, MD – David Turley and Frank Sullivan have arranged $8,125,000 in financing for the Days Inn SeaTac Airport in Seattle, Washington and the Quality Inn in Laurel, Maryland.

Cronheim financed the 85-room mid-rise Days Inn International in Seattle, WA for $3,350,000 at 70% LTV on a 10-year term with a 25-year amortization schedule. The property is located just three blocks south of the Seattle-Tacoma International Airport (SeaTac) on International Boulevard/Route 99 between 188^th Street and 192^nd Street within a cluster of airport hotels, restaurants, car rental facilities and park-n-ride lots. International Boulevard/Route 99 runs north to become the primary access point for arrivals and departures to SeaTac. SeaTac was the nation’s 17^th busiest airport in 2006 servicing nearly 30 million passengers. The property is located within two miles of two major industrial complexes belonging to Boeing Corporation, which helps drive demand for the local lodging market.

The Days Inn SeaTac Airport is rated A+ within the chain and is the recipient of the Days Inn “Five Sunbursts” quality award, indicating that the hotel greatly exceeds normal standards for quality and service. The hotel features free high speed wireless internet, complimentary continental breakfast, free 24 hour airport shuttle service, and a business center.  The hotel also features select rooms with private Jacuzzis or a kitchenette.   

Cronheim also financed the acquisition of the Quality Inn & Suites in Laurel, MD for $5,075,000 on a 10-year term with a 30-year amortization schedule.  The subject property consists of a 5-story, 96-room limited-service hotel with 1400 square feet of meeting room space.  The property is located along 2^nd street in Laurel, Maryland, directly adjacent to the Laurel Race Course, which accommodates over 15,000 spectators, and Historic “Old Town” Laurel.  It is within minutes of major employment centers such as Fort Meade and Andrews Air Force Base, and attractions like Laurel Lakes Centre Mall and Savage Mill Shopping Center.

First built in 1964, the Subject has undergone significant renovations over the past four years, including upgrade or installation of bed linens, mattresses, common area carpeting, bath tiles and shower rods, in-room appliances, entry doors, front canopy, wall coverings, elevator components, security cameras and high-speed wireless internet service. The exterior of the Subject was also re-painted.